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Video instructions and help with filling out and completing sba certification lookup
From Studio B at advance 8a here's mark Ryan and Kathy Veck sell hey Kathy there are a lot of people out there that want to get SBA 8a certified let's talk about the qualifications for the certification so they can learn more about it in order to qualify for the NA certification there are five areas we will discuss that the SBA tests to determine if a firm is eligible the firmest passed each of the areas right Kathy the areas are establishing the owner of the firm is socially disadvantaged establishing the owner of the firm is economically disadvantaged the owner must not have any ethical issues and be free from ethical entanglements that might impair his or her judgments establishing the owner of the firm has unconditional control of the firm and establishing the firm itself has the potential to complete federal contracts that's right mark now let's talks about them in more detail the first one is special disadvantage generally to be socially disadvantaged 51% or more of the firm must be owned by an individual or individuals that are both US citizens and at least 25% of their blood heritage comes from a recognized minority group for Native American Indians the test is the ability to prproof of membership to the state or federally recognized tribe women service disabled veterans middle-eastern Americans as well as people who have a handicap can also be eligible however they have the additional burden of proving they are socially disadvantaged as they are not in a presumed group that's right Kathy and similar to that the second one is economically disadvantaged which also applies to the owner to be economically disadvantaged the owner must establish they meet three financial criteria first he or she must have a three year average income that doesn't exceed $250,000 and not including a spouse the starting point is the individuals adjusted gross income from their individual tax return but many exceptions apply such as the pastor income from their firm so if you're close you'll want to call or email us for additional guidance second he or she must have an adjusted net worth that is less than $250,000 this doesn't include a spouse his or her personal residence the value of the applicant business and any retirement accounts provided there's a penalty for withdrawal of the funds third he or she must have less than four million dollars in total assets not including a spouse that's right mark and the final criteria for the owner it's not ethical issues for this the SBA will the contender her past with regard to any misdemeanors or felonies they may have committed the SBA will want to see that it was minor for some time has passed with no repeat issues additionally the owner cannot be a current federal employee they must be up to date on their federal taxes or have a payment plan in place with the IRS lastly there is.